State House funds rail, kills funds aimed at Hoeven’s bank

State News
law, justice, gavel, law books, courtroom_2745713082101505-159532

BISMARCK, N.D. (AP) — The Republican-controlled North Dakota House has agreed to fund a rail spur to help a troubled shipping center in Minot.

But lawmakers balked at giving more than $8 million in taxpayer money to bail out a trio of banks — including one owned by Republican U.S. Sen. John Hoeven.

Five Minot-area lawmakers sponsored the legislation for the intermodal shipping facility that sought to funnel funds to a trio of banks that acquired the facility in the senator’s hometown through foreclosure.

The House instead agreed to provide a loan of up to $2.5 million for track improvements for the facility.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


More Don't Miss

KX News Trending Stories

Latest Stories

More Local News